Cattle Fade Back Lower on Turnaround Tuesday
Live cattle futures were down 45 cents to $2.55 at the Tuesday close. Open interest was up 1,267 contracts on Tuesday. Cash trade has started out on the quieter side this week, with feedlots compiling showlists. Feeder cattle futures fell back from the Monday strength, with contracts down 20 cents to $3.55. OI was up 428 contracts. The CME Feeder Cattle Index was down 71 cents on September 21 to $338.74.
Wholesale Boxed Beef prices were higher in the Tuesday PM report, with the Chc/Sel at $21.04. Choice boxes were up $2.54 at $378.89, with Select $2.08 higher to $3587.85. USDA estimated Federally inspected cattle slaughter for Tuesday at 105,000 head and taking the week to date total at 210,000 head. That was 1,000 head below last week and 19,195 head below the same week last year.
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Oct 26 Live Cattle closed at $218.775, down $2.175,
Dec 26 Live Cattle closed at $219.450, down $2.550,
Feb 27 Live Cattle closed at $220.550, down $2.550,
Sep 26 Feeder Cattle closed at $337.275, down $0.200,
Oct 26 Feeder Cattle closed at $328.025, down $2.225,
Nov 26 Feeder Cattle closed at $323.200, down $2.900,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
